TMA adds Monmouthshire BS to lender panel – Mortgage Strategy
TMA Club has added Monmouthshire Building Society to its lender panel following the lender’s return to the broker market.
The move means TMA’s DA partners are among a select group of brokers currently with access to Monmouthshire’s residential, buy-to-let and commercial mortgage ranges.
The Newport-based lender paused its lending last year while it developed a new loans origination platform to make the application and approval process smoother and quicker. It is working with a small group of distributors, including TMA, ahead of a full launch later this year.
The society operates across England and Wales, lending up to age 85 and offering loans of up to 95% LTV.
It will also lend to 5.5 times income and accepts 100% of overtime, shift allowance and commission in its affordability calculations.
Alongside flexible residential criteria, the society offers personal and limited company buy-to-let loans, commercial mortgages and holiday lets.
Commenting on the panel addition TMA senior product and business manager Robert McCoy, said: “Adding Monmouthshire to our panel gives our DA brokers access to a genuinely flexible lender at a time when more and more clients don’t fit the standard mould.”
